Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

Pointsbet (ASX:PBH) share price on watch with more US access

The Pointsbet Holdings Ltd (ASX: PBH) share price is going to be on watch today after revealing it has secured more market access.

Pointsbet increases US market access

The company announced that its Maryland (US) subsidiary PointsBet Maryland has entered into an agreement with The Riverboat on-the-Potomac to provide online and retail sports wagering in the state of Maryland, subject to the receipt of necessary regulatory approvals and licensure.

On 18 May 2021, Maryland Governor Larry Hogan signed legislation allowing both online and retail sports betting in the State.

Riverboat Group is a licensed satellite simulcast facility for horseracing and minority owned small business located in Charles County, Maryland.

The agreement involves PointsBet and the Riverboat Group partnering to launch online and retail sports wagering in the state. This agreement is for an initial 10-year period.

PointsBet will pay to Riverboat Group online and retail sportsbook market access fees as well as a portion of the net gaming revenues derived from the online and retail sportsbook operations.

PointsBet will be responsible for the licensing and regulatory costs in connection with launching and operating the PointsBet services.

One of the features of the agreement is that neither party may terminate for convenience during the term.

Management comments

PointsBet USA CEO Johnny Aitken said: “With terrific partners in The Riverboat on-the-Potomac, PointsBet is thrilled to begin the process toward offering the passionate, sports-loving community of Maryland with the fastest and most differentiated sports betting product across every customer touchpoint.”

Summary thoughts on PointsBet and the share price

The business is doing the right things to set the foundations to be able to generate significant earnings in the US in the coming years. It’s rapidly gaining access across many US states. I’m not sure how big it can become, but it might be able to become a presence on many US TVs that are watching sports.

It’s one of the ASX growth shares worth putting on the watchlist, though there are other businesses that are further on with their growth journey.

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned.
Skip to content